Greenwich business briefs

Published 8:51 pm, Wednesday, January 28, 2015

Central Greenwich Starbucks reopens after renovations

The Starbucks at 147 E. Putnam Ave. reopened this week after being closed for two weeks for renovations. The coffee company, which operates three shops in Greenwich, with locations in Cos Cob and on Greenwich Avenue, in addition to the East Putnam Avenue shop, has been renovating properties around the country, including an overhaul at its location on Summer Street in Stamford last year. While the storm that hit Greenwich earlier this week hampered the East Putnam Avenue's ability to run -- resulting in shorter hours on Monday and Tuesday -- the shop returned to its normal schedule Wednesday, with the newly updated interior.

Greenwich Atlas Holdings launched its newest operating company, Aludium, earlier this month with the acquisition of rolling mills in Spain and France from Alcoa, a global leader in lightweight metals technology, engineering, and manufacturing. Included in the transaction are mills located in Amorebieta and Alicante, Spain, and Castelsarrasin, France, as well as the Cindal research and development facility in Alicante. Terms of the transaction were not disclosed. Aludium produces products for a broad array of sectors including building and construction, brights and decoration, and closures and cosmetics. The company will maintain its focus on these core markets. Aludium will be led by CEO Arnaud de Weert, an aluminum industry executive, who previously served as president of Novelis Europe and chief operating officer of Constellium.

Eagle Point updates information

Greenwich-based Eagle Point Credit Company (NYSE:ECC) this week published updated portfolio information summarizing its industry exposure based on the collateralized loan obligations in which the company invests. As of Dec. 31, 2014, the company's estimated top 10 S&P industry exposures were: Business equipment and services, 8.5 percent; Health care, 7.7 percent; Electronics and electrical, 6.4 percent; Leisure goods, activities and movies, 5.8 percent; Oil and gas, 5.4 percent; Lodging and casinos, 4.5 percent; Telecommunications, 4.4 percent; Financial intermediaries, 4.3 percent; Chemicals and plastics, 4.2 percent; and Retailers, excluding food and drug, 4.2 percent. The company currently anticipates no material change in its estimates of internal rate of return (IRR) for its CLO equity positions.